Here’s another bad economic joke that’s not really a joke…
Governor Arnold Schwarzenegger: The economy in Kalee-Fornee-A is so bad…
Audience: “How Bad Is It?”
Arnold: It’s so bad that I announced last night that I had to either lay off 51,000 teachers or release 40,000 prisoners to balance the budget.
California’s budget deficit has grown so severe that Governor Arnold Schwarzenegger said he may be forced to release 40,000 prisoners or lay off 51,000 teachers if voters next week reject three budget balancing measures. The state’s projected deficit will swell to $15 billion between now and June 2010, Schwarzenegger told lawmakers late yesterday. Half the gap falls in the current fiscal year that ends in seven weeks.
Nice. Layoff 51,000 teachers and the one thing I promise you is an even bigger state prisoner population for taxpayers to worry about in around 3 to 5 years. On the other side of the coin, where are you releasing the 40,000 prisoners into? The Wild? Rodeo Drive?
Arnie’s choice is pretty ugly either way, unless he can figure out how to retrain the convicts to become teachers!
Full Story: Governator’s Budget (Bloomberg)